White House: Inflation is very high in America.
According to Reuters, the director of the Office of Management and Budget of the White House admitted that inflation in this country has reached a very high level.
Shalanda Young, the director of the White House Office of Management and Budget, said on Wednesday that the administration of US President Joe Biden is focused on addressing rising costs in the country, considering inflation in the US to be too high.
The director of the Office of Management and Budget of the White House said in the hearing of the Senate Budget Committee: “Inflation is too high.” American families are paying too much, and we need to put our foot on the brakes to lower costs.
This White House official emphasized that in the budget proposed by the President of the United States for the fiscal year 2024, policies aimed at reducing health care and energy costs are considered.
According to Young, Biden’s proposed budget emphasizes investing in America, reducing costs for families, reducing the budget deficit, and improving health care and supply.
America’s No. 2 bank recently announced it would be closed indefinitely due to what regulators called systemic risk. This bank is actually the second bank to announce its bankruptcy and closure in less than a week in America.
Earlier, Silicon Valley Bank was forced to close after depositors suddenly withdrew their funds, and on Monday it was announced that New York-based Signature Bank was also forced to close its doors.
